How Many Leads Do You Really Need?
How many new leads does your team need per month?
Surprise! “More” is not necessarily the answer. On the contrary, too many leads can be damaging to your overall production. Finding just the right amount of leads will prevent your team from being stretched too thin, and give them a happy balance between lead generation and lead management.
Figure Out Your “Sweet Spot”
So, drowning your agents with more and more leads isn’t your best strategy. Think about Goldilocks and the Three Bears. Lead generation works the same way. Too many leads, and you’ll find yourself spending more than necessary, your agents will be overwhelmed, and high-quality leads will slip through the cracks. Too few leads, and…well that’s pretty obvious. You want to get that sweet spot, right in the middle, where your lead pool is just right.
How many leads is “just right”? You need to figure out…
- How many leads does your agent need to get an appointment?
- How many appointments does your agent need to get to a closing?
- What is the agent’s conversion rate?
- How big is their current database?
- How much time are they willing to dedicate to prospecting?
Create More Opportunities
Lead generation plays a huge role in growing real estate businesses, but remember, a new lead is just the first step in the sales cycle! People searching online tend to be further out in the buying process. They are mostly browsing for information and need time before making decisions.
Instead of worrying about getting more and more leads in the door, focus on converting those leads into opportunities. Opportunities are those leads that have registered on your site, and they’re engaged and taking action. If you are using a CRM with leads insights, you can see: “Amanda Homebuyer is browsing your site right now.” Reach out! This is your best chance to get a response and start a conversation.
Keeping track of opportunities in your pipeline and knowing when to contact them can be difficult. BoomTown’s automated tools make it easy to nurture prospects and create real, actionable opportunities for agents.
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Hold Your Agents Accountable
“My leads suck!” Sound familiar? It’s inevitable that you will get a handful of “trash” leads, but overall, leads just need to properly worked. The average buyer cycle takes 10+ weeks! This means continuing the conversation, following up, and if those leads still aren’t quite ready to buy, putting them on a nurture campaign. These are leads you’re paying for. If your agents aren’t properly following up, it’s money down the drain!
Have a system that tracks your agents’ activities ensures that you’re not wasting your leads (and money) on an agent who is simply bad at converting. Train your team on a lead follow-up process and hold them accountable.
Our automated Action Plans make it easy for agents to nurture leads down the funnel, while our Accountability Dashboards insure that the money you invest in lead generation does not get wasted.